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Common stock—$10 par value, 100,000 shares authorized, 45,000 shares issued and outstanding
$450,000 Paid-in capital in excess of par value, common stock $80,000
Retained earnings $370,000
Total stockholders' equity $900,000
In year 2012, the following transactions affected its stockholders’ equity accounts.
Jan. 1 Purchased 6,000 shares of its own stock at $15 cash per share.
Jan. 5 Directors declared a $4 per share cash dividend payable on Feb. 28 to the Feb. 5 stockholders of record.
Feb. 28 Paid the dividend declared on January 5.
July 6 Sold 2,250 of its treasury shares at $19 cash per share.
Aug. 22 Sold 3,750 of its treasury shares at $12 cash per share.
Sept. 5 Directors declared a $4 per share cash dividend payable on October 28 to the
September 25 stockholders of record.
Oct. 28 Paid the dividend declared on September 5.
Dec. 31 Closed the $388,000 credit balance (from net income) in the Income Summary account to Retained Earnings.
$450,000 Paid-in capital in excess of par value, common stock $80,000
Retained earnings $370,000
Total stockholders' equity $900,000
In year 2012, the following transactions affected its stockholders’ equity accounts.
Jan. 1 Purchased 6,000 shares of its own stock at $15 cash per share.
Jan. 5 Directors declared a $4 per share cash dividend payable on Feb. 28 to the Feb. 5 stockholders of record.
Feb. 28 Paid the dividend declared on January 5.
July 6 Sold 2,250 of its treasury shares at $19 cash per share.
Aug. 22 Sold 3,750 of its treasury shares at $12 cash per share.
Sept. 5 Directors declared a $4 per share cash dividend payable on October 28 to the
September 25 stockholders of record.
Oct. 28 Paid the dividend declared on September 5.
Dec. 31 Closed the $388,000 credit balance (from net income) in the Income Summary account to Retained Earnings.
Cash dividends, treasury stock, and statement of retained earnings?
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